Why Moderna Shares Are Trading Lower Today

Moderna Inc MRNA is trading lower Monday morning after the U.S. Food and Drug Administration delayed approval of the company's Emergency Use Authorization request for the use of its COVID-19 vaccine in adolescents 12 to 17 years of age.

The FDA informed Moderna that it will require additional time to evaluate the risk of myocarditis after vaccination. The FDA notified Moderna that this review may not be completed before January.

The company noted that it's committed to conducting its own careful review of new external analyses as they become available.

Moderna announced it will delay its request for EUA in the pediatric population (6 to 11 years of age) until the FDA comes to a decision on the use of its vaccine on the adolescent age group.

See Also: FDA Delays Approval For Moderna's COVID-19 Shot In Teenagers: What You Need To Know

Moderna is a pharmaceutical and biotechnology company focused on vaccine technologies based on mRNA. It's mRNA technology was rapidly validated with its COVID-19 vaccine, which was authorized in the United States in December 2020.

MRNA Price Action: Moderna has traded as high as $497.49 and as low as $66.23 over a 52-week period.

The stock was down 2.88% at $335.28 at time of publication.

Photo: Mufid Majnun from Pixabay.